π Casey's Expands in Texas with $1.15 Billion Acquisition π

Casey's General Stores has announced it will acquire Fikes Wholesale, the owner of CEFCO convenience stores, for $1.15 billion. This all-cash deal will add 148 new stores to Casey's portfolio in Texas, a market the company entered in November with the purchase of W. Douglass Distributing and its 22 Lone Star Food Stores. Following the announcement, Casey's shares hit a record high, reflecting strong investor confidence.
While the recent acquisition of Fikes Wholesale represents a significant expansion into Texas, Casey's General Stores has not detailed specific future expansion plans beyond this acquisition. However, the strategic move indicates a continued focus on growth in new markets and enhancing its presence in key regions.
Given Casey's recent success and strong market performance, itβs likely the company will continue exploring opportunities to expand its footprint through acquisitions, new store openings, or other strategic initiatives.